Global Automobile Alloy Wheels Market is Majorly Driven by The Growth in Sales of Premium Segment Cars and Aftermarket Sales

Global Automobile Alloy Wheels market is expected to expand at a compound annual growth rate (CAGR) of 5.8% over the forecast period i.e. 2016-2024.The automobiles alloy wheels market witnessed growth across the globe in recent years as automotive consumers increasingly become brand as well as performance conscious.

Market Landscape

Automobile manufacturers are more focusing on providing their vehicles with alloy wheels as they are preferred by the automotive customers owing to their looks and performance.Automobile alloy wheels market players constantly focusing on developing cutting-edge technology with performance driven products. Alloy wheels also escalate the acceleration and braking performance, and also improve fuel efficiency as they are lightweight and deliver better heat conduction. Alloy wheels are commonly used in passengers cars as the low commercial vehicle (LCVs) and high commercial vehicle (HCV) majorly uses steel rims because it can bear heavy loads and have a low maintenance cost.

Alloy penetration in wheels was in the year 2000 for European automobiles about 30 to 35%, compared to larger more than 50% in USA and Japan. Currently, about 50% of the vehicles produced on a worldwide basis use alloy wheels, certain car manufacturers furnish over 80% of their production with alloy wheels. In North America, the market penetration of alloy wheels approaches 70%, in Japan about 60% and in Europe about 50%.

“Global Automobile Alloy Wheels Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in automobile alloy wheels industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler, and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, Automobile Alloy Wheels manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall automobile alloy wheels industry.

Global Automobile Alloy Wheels Market Segmentation can be classified on the basis of:-

• By Vehicle Type

• Passenger vehicles
  • Four wheelers
  • Two wheelers
• Commercial Vehicles
• LCV (Light Commercial Vehicles)
• HCV (Heavy Commercial Vehicles)

• By Material Type
  • Aluminum
  • Magnesium
  • Carbon Fiber

• By End Users

• OEMs (Original Equipment Manufacturer)
• Aftermarket

• By Geography

• North America (US, Canada) {Market Share (%), Market Size (USD Billion, Production (Units)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion, Production (Units)}
• The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Production (Units)}
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Production (Units)}
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Production (Units)}

Download Exclusive Sample Report @ https://www.goldsteinresearch.com/request-sample/automobile-alloy-wheels-market-outlook-2024-global-opportunity-and-demand-analysis-market-forecast-2016-2024

Market Trends, Drivers, and Challenges

Growing vehicle sales across the globe and rapid urbanization bolstered the growth of global automobile alloy wheels market. In 2015, more than 72.0 million passenger cars were sold globally and 68.56 million cars were produced in the same year and these stats are estimated to reach 100 million units production of automobiles by 2020, which will significantly augment the growth of automobile alloy wheels market during the forecast period. Additionally, alloy wheel manufacturers are continuously providing novel products in the market in order to distinguish from other market players. For instance, Dymag a performance alloy wheel manufacturer introduced carbon composite car wheels which are 40% lighter than equivalent ORM aluminum alloy wheels of the same size.

“Global automobile alloy wheels market report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global Automobile Alloy Wheels market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.

Media Contact
Company Name: Goldstein Research
Contact Person: Steve Blade
Email: Send Email
Phone: +1-6465687747
Address:99 Wall Street, Suite No:- 527
City: New York
State: NY
Country: United States
Website: http://www.goldsteinresearch.com/